Massachusetts H3246 proposes a tax credit for adoptive parents to offset adoption expenses.

Massachusetts H3246 amends the state's tax code to allow a refundable adoption tax credit. The bill provides a $2,500 credit for each child adopted from foster care and a $2,000 credit for each child adopted through private or public agencies. These credits can be applied against any taxes due, aiming to reduce the financial burden on adoptive parents. The bill defines adoption expenses to include fees paid to licensed agencies, attorneys, court fees, and medical costs related to the adoption process.

Massachusetts H3246 proposes a tax credit for adoptive parents to offset adoption expenses.

Massachusetts H3246 amends the state's tax code to allow a refundable adoption tax credit. The bill provides a $2,500 credit for each child adopted from foster care and a $2,000 credit for each child adopted through private or public agencies. These credits can be applied against any taxes due, aiming to reduce the financial burden on adoptive parents. The bill defines adoption expenses to include fees paid to licensed agencies, attorneys, court fees, and medical costs related to the adoption process.